Ark Invest made a significant move this week by selling 13,780 shares of Coinbase, valued at $3.9 million, from its Fintech Innovation ETF (ARKF).
This decision came after a 10% drop in Coinbase’s stock, following the Federal Reserve’s more hawkish tone.
The sale is part of Ark Invest’s strategy to maintain portfolio diversification, as the firm typically avoids letting any single holding exceed 10% of an ETF’s total assets.
Prior to the sale, Coinbase represented 9.9% of ARKF’s holdings, making it the second-largest position in the fund, just behind Spotify.
Despite this adjustment, Coinbase remains a prominent part of ARKF, with the total value of the fund’s Coinbase holdings still around $110 million.
Ark Invest’s move follows a broader trend of frequent rebalancing in response to market shifts, ensuring the ETF remains aligned with its risk and diversification goals.
This latest action reflects Ark’s active management style, which involves adjusting positions based on market conditions and the performance of individual stocks.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.